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the complications which can be involved in what might at first sight appear to be relatively simple matters, such as paragraphs (c) and
(e).
Considerations of space prevent us from annexing a copy of
the Sub-Committee's Report to this Report but anyone interested in its detailed discussions of the problems involved can obtain
a copy of the Report from the Secretary to the Standing Committee.
Very briefly, the views and recommendations of the
3.4
Sub-Committee can be summarised as follows:
(1) Paragraph (c) of subsection 80(2).
(i)
To understand what class of charges is
registrable under the existing provision,
one has to go to the Bills of Sale Ordinance,
Cap. 20, which itself is far from being a
model of clarity as far as the ordinary
businessman is concerned, and ascertain
when an individual has to register a bill of
sale.
(ii) The Sub-Committee have therefore recommended
that the existing wording of the paragraph
be deleted and the following substituted:
"(c)
a charge on a personal chattel created
or evidenced by an instrument".
A definition of 'personal chattel' is included
in the recommendations.
(2) Paragraph (e) of subsection 80(2).
(i)
The problem with this provision is that 'book debts'
is a very vague term and there has been a good
deal of case law on the subject, much of it
/20.
No comments yet.
Private notes are available after approval.